The top dog. It’s what everyone wants to be. Recently, with the rise of so many different technological advances, and the loads of money that comes with it, the race to the top has become even more intense. There might be no place where this is more true than with blockchain technologies. And recently, IBM has come out on top, beating out even Microsoft and Accenture for utilizing blockchain technologies across industries. This report comes from the “Blockchain enterprise survey”, a Juniper Research marketing research firm. Their list contains over 400 companies and industry leaders, including Microsoft, Accenture and IBM. IBM came out as the top dog.
Research author Windsor Holden had the following comment on the matter, “Even if companies conduct initial testing using a public blockchain, in most cases the shortcomings of these chains should disqualify them from many use cases, including financial settlement, public sector deployments, logistics and land registry.”
The research also showed that IBM didn’t barely come out on top. They blew their competition out of the water. The research showed that 43 percent of companies that are in the process of utilizing blockchain technologies, ranked IBM as their primary choice. Microsoft, came in second at 20 percent.
One key to IBM’s success is how they use blockchain technologies across a wide variety of industries. They have their hands in the banking sector, asset tracking, and even the music industry. IBM boasts the ability to change foundational practices that have been used in industries. Banking, government healthcare and even logistics are jumping on board.
The fact that blockchain is one of the latest trends that everyone is jumping on is evidenced by the fact that over two-thirds of those surveyed had invested over $100,000 in blockchain technologies in 2016. This trend isn’t slowing down, as even more of those surveyed said they’d continue to invest that more or more.
The primary place of investment is in public blockchains, most notably Bitcoin. But the data from the report encouraged companies to go with private blockchains.
Speaking of coming out on top: Bitcoin. They have emerged as the key leader in the digital cryptocurrency revolution. It’s a revolution that is completely changing the way financial transactions are made between two parties.
Blockchain technologies show the proof of transaction between cryptocurrency exchange. Or in layman’s terms, it’s “an open, distributed ledger that can efficiently record transactions between two parties”. This technology was originally developed for the cryptocurrency giant Bitcoin, as how they tracked the transactions. In other words, it’s accounting for cryptocurrency. As transactions are recorded, they form “blocks”. These blocks then go into a permanent database, never able to be deleted. This technology is important because cryptocurrency isn’t regulated by a governing authority, like a national bank. But blockchain provides the necessary accounting to help make the transaction secure, safe, and legitimate.
IBM saw the opportunity to be “king of the hill” on this new and lucrative technological advancement. And anytime you’re beating out Microsoft on something, you know you’ve done something right.